CP11-4 Calculating Common and Preferred Cash Dividends [LO 11-2, LO 11-3, LO 11-4) Tower Corp, had the following stock outstanding and Retained Earnings at December 31, 2018 Common Stock (par 58 outstanding, 23,000 shares) Preferred stock, 7 (par $10; outstanding, 5,300 shares) Retained tarnings $184,000 53,000 273,000 On December 31, 2018, the board of directors is considering the distribution of a cash dividend to the common and preferred stockholders. No dividends were declared during 2016 or 2017, and none have been declared yet in 2018. Three independent cases are e assumed: Cane At The preferred stock In noncumulative; the total anount of 2018 dividends would be $11,900 Case 11 The preferred to in cumulative the total amount of 2016 dividendo would be $11,130. Dividends were not in arrears prior to 2016. Caneci Same as Case I, except the total dividende are 559.000. Required: 1-a. Compute the amount of 2018 dividends, in total that would be payable to each class of stockholders if dividends were declared as described in each case. TIP: Preferred stockholders with cumulative dividends are to be paid dividends for any prior years in arrears) and for the current year before common stockholders are paid. 1-b. Compute per case, the 2018 dividends per share, payable to each class of stockholders. Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Compute the amount of 2018 dividends, in total that would be payable to each class of stockholders if dividends were declared as described in each case. TIP: Preferred stockholders with cumulative dividends are to be paid dividends for any prior years (in arrears) and for the current year before common stockholders are paid. Case B Case c Preferred Common Total $ $ Case A $ 0 0 0 Red Reg 1B > Req 1A Reg 1B Compute per case, the 2018 dividends per share, payable to each class of stockholders. (Round your answers to 2 decimal places.) Case A Case B Case C Preferred (per share) Common (per share)